The Future of Global Retirement, a report by Smart

The report takes a look at how the retirement industry will develop across the globe following the coronavirus pandemic

By

Smart

5/5/2021

Smart, the retirement technology company behind Smart Pension, has launched the Future of Global Retirement report. Featuring YouGov research commissioned by Smart, the report looks at how the retirement industry will develop in countries such as the United Kingdom, Australia and  the United States in years to come, following the coronavirus pandemic.

Key findings from the report:

  • Most Brits (54%) see retirement as an event with several stages rather than a one-off event 
  • 31% of people in UK, US & Australia intend to work through their retirement
  • 39% of Brits don't understand the options available to them at retirement

And further afield in the more developed Australian and American DC retirement markets:

  • more than half (55%) of Australians no longer see retirement as a one-off event, but as a gradual transition instead 
  • 56% of Americans see retirement as an event with several stages, rather than a one-off event

Commenting on the report, Michael Watkins, director of retirement proposition at Smart, said: 

“With the global retirement market worth $47 trillion, we’ve looked at how savers have seen their retirement plans change due to the COVID-19 pandemic. Our report shows that innovation in retiretech will be vital to support the evolving needs of savers in three of the largest DC pensions markets in the world in an industry that has historically been slow to change.”

Download the full report: https://www.smart.co/future

For more information visit: https://www.smartretire.uk/

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FOOTNOTES
CONTRIBUTORS

The Future of Global Retirement, a report by Smart

The report takes a look at how the retirement industry will develop across the globe following the coronavirus pandemic

Smart, the retirement technology company behind Smart Pension, has launched the Future of Global Retirement report. Featuring YouGov research commissioned by Smart, the report looks at how the retirement industry will develop in countries such as the United Kingdom, Australia and  the United States in years to come, following the coronavirus pandemic.

Key findings from the report:

  • Most Brits (54%) see retirement as an event with several stages rather than a one-off event 
  • 31% of people in UK, US & Australia intend to work through their retirement
  • 39% of Brits don't understand the options available to them at retirement

And further afield in the more developed Australian and American DC retirement markets:

  • more than half (55%) of Australians no longer see retirement as a one-off event, but as a gradual transition instead 
  • 56% of Americans see retirement as an event with several stages, rather than a one-off event

Commenting on the report, Michael Watkins, director of retirement proposition at Smart, said: 

“With the global retirement market worth $47 trillion, we’ve looked at how savers have seen their retirement plans change due to the COVID-19 pandemic. Our report shows that innovation in retiretech will be vital to support the evolving needs of savers in three of the largest DC pensions markets in the world in an industry that has historically been slow to change.”

Download the full report: https://www.smart.co/future

For more information visit: https://www.smartretire.uk/

About Smart

Smart is a global savings and investments technology platform provider. Its mission is to transform retirement, savings and financial well-being around the world.

Smart partners with governments and financial institutions (including insurers, asset managers, banks, financial advisers) to deliver retirement savings and income solutions that are digital, bespoke and cost efficient. In addition to the UK, Smart is operating in the USA, Europe, Australia and the Middle East with more than a million savers entrusting over £4 billion in assets on the platform. 

Smart supports its clients with a 750 strong global team.

Legal & General, Fidelity International Strategic Ventures, J.P. Morgan, the Link Group, Barclays, Natixis Investment Managers, DWS Group and Chrysalis Investments are all investors in Smart.

We tweet as @SmartPensionUK.

For media enquiries

Email: [email protected]